FRANKFURT (dpa-AFX) - The prospect of high interest rates over a longer period of time is forcing companies to adapt to changing conditions, in the view of DZ Bank. "We do not expect a return of zero and negative interest rates, even in the long term," analyst Timo Dums wrote in a study available Thursday. He also said the first cuts in key interest rates would not be conceivable until the middle of next year at the earliest. The prospect of a longer period with high key interest rates is therefore becoming more solid, which should help banks significantly.
Dums considers those companies to be particularly well positioned that are active in segments that are not impressed by periods of economic weakness. It is also helpful if cash inflows do not occur far in the future, but rather in the near future. In addition, low or at least long-term debt counteracts rising interest rates. Companies whose business model is favored by higher interest rates could also benefit.
According to DZ Bank, banks and financial services providers such as Commerzbank, Allianz and Deutsche Borse in particular are likely to cope well with higher long-term interest rates. However, Dums also mentions aircraft manufacturer Airbus, which would benefit from advance payments from its customers./niw/ck/mis
Publication of the original study: 21.09.2023 / 11:21 / CEST
First disclosure of the original study: 21.09.2023 / 11:33 / CEST